A California law requiring private equity firms and hedge funds to get approval from the attorney general's office when buying health care assets appears to be dead in the water. The legislation is Assembly Bill 3129, sponsored by California Representative Jim Wood. Up until now, the bill has had plenty of momentum, making it out of the California State Assembly and succeeding in two committee votes in the California Senate. If finalized, AB 3129 would have forced PE-type buyers to disclose … [Read more...]
‘A Monumental Shift’: Under-the-Radar OIG Opinion Could Redefine Profit-Sharing Models for ASCs
For years, the general rule was that ambulatory surgery centers (ASCs) couldn't share their revenue or profits with physicians, unless those individuals had a stake in the surgery center. But that relatively black-and-white rule may be turning a shade of gray. An under-the-radar opinion from the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG) issued in October 2023 challenged this long-standing practice regarding profit distribution. While the opinion applies … [Read more...]
Legal Battle Against FTC’s Non-Compete Ban Heats Up: Implications for Ambulatory Surgery Centers
On April 23, 2024, the Federal Trade Commission (FTC) finalized a rule to prohibit most non-compete agreements across the U.S. The decision, if enacted later this year, could significantly impact how ambulatory surgery centers (ASCs) retain their most important physicians and executives. But the ban is already seeing some intense opposition, with more pushback expected. On July 3, Judge Ada Brown of the U.S. District Court for the Northern District of Texas temporarily blocked the FTC from … [Read more...]